DAILY MARKET COMMENTARY
12 April 2011 – 8:00 GMT
Tuesday
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Market Analysis Desk
Foreign Exchange Research: www.fibosignals.com/5585/resources.html
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TECHNICAL DATA
EURUSD 1.4500 resistance.
EURUSD BULLISH Initial resistance is at 1.4500, break of this level would open way to 1.4512/79 area. Support is at 1.4291.
USDJPY BULLISH Pullback through 84.03 has exposed 83.13; initial resistance is at 84.79 ahead of 85.53/93 area.
GBPUSD BULLISH Rise above 1.6458 would open up the way towards 1.6516, while initial support is at 1.6257.
USDCHF BEARISH Bear trend extends; break of 0.9038 exposes 0.8964 and 0.8852. Resistance is at 0.9200.
AUDUSD BULLISH The pair pulls back through 1.0412 for a minor correction to expose 1.0289; broader focus is on 1.0600/40 resistance zone.
USDCAD BEARISH Focus is on 0.9513/00 support area, while resistance lies at 0.9642.
EURCHF BULLISH As long as support at 1.2933 holds, expect recovery towards 1.3188 and 1.3243.
EURGBP BULLISH Resistance is at 0.8885 ahead of key high 0.8942, while support lies at 0.8759.
EURJPY BULLISH Sell-off holds above 120.00 keeping our focus on the upside where a break above 122.41 and 123.33 would signal further gains towards 125.00.
SCHEDULE
Please visit Fibosignals.com’s Economic Calendar for a schedule of market news and events.
A. White
Analyst at Fibosignals.com
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